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Property Price Trends in Chennai

Last updated: 4 weeks ago
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  • Re : Property Price Trends in Chennai

    Wiseman:

    I personally feel Learning from Mistakes is what i see in JJ and thats wat has brought her back to power but not in the opposite camp. Infact given the responsibility CM first time and people around you to loot any amount anyone will make mistakes becoz ultimately the blame goes on Leader.But in the second term she came of well but failed in some..This is a third time..lets see

    But for RE its going to be long term bearish trend...

    Comment


    • Re : Property Price Trends in Chennai

      Originally posted by wiseman View Post
      Abishek, where have you been!

      Can anyone verify if all of this is correct?

      *************************************************
      KK assets
      1. Karunanidhi’s House in Gopalapuram –6124 sq.ft. in area—value Rs.5 crores.
      2. The House of Murasoli Maran in Gopalapuram—value Rs. 5 crores
      3. The House of Murasoli Selvam in Gopalapuram—1200 sq.ft. in area—value Rs.2 crores
      4. The House of Sornam in Gopalapuram—value 4 crores.
      5. The House of Mu Ka Muthu in Gopalapuram—value Rs.2 crores
      6. The House of Amritham in Gopalapuram—value Rs.5 crores
      7. The House of daughter Selvi Ezhilarasi in Gopalapuram—value Rs.2 crores
      8. The House of wife Rajathiammal in CIT Colony—extent of Land 9494 sq.ft.—area of the house 3500 sq.ft—value Rs.12 crores
      9. The extent of land owned by Rajathiammal andKanimozhi in Mannivakkam village—300 acres—value Rs.4.5 crores
      10. A Shopping Establishment called Royal Furnitures owned by Rajathi Ammal—value Rs.10 crores.
      11. The house owned by Mu Ka Stalin at Velacheri---extent of land 2687 sq.ft.—area of the house 2917 sq.ft.—value Rs.2 crores
      12. Udyanidhi’s Snow Bowling Alley at Nungumbakkam—value Rs.2 crores
      13. Kalanidhi Maran’s palatial House on Boat Club Road in Chennai—16 grounds of land—value Rs.100 crores
      14. Farm House owned by Maran Brothers in Kottivakam—value Rs.10 crores
      15. MM Industries near Ramachandra Medical College at Porur—value Rs.2 crores.
      16. Murasoli office building at Kodambakkam—6 grounds of private patta land and 1472 sq.ft. of Public and Government owned Poromboke Land—value Rs.20 crore.
      17. Sun Cable Vision property at Mahalingapuram in Kodambakkam—2 grounds of land and other TV Equipments—value Rs.5 crores.
      18. Sun TV’s Lands at MRC Nagar—32 grounds in extent –value Rs.100 crores.
      19. Value of 11% shares in Coromandel Cements Ltd. Rs.50 crores
      20. 4-bedroomed flat owned by Selvam in Bangalore—value Rs.4 crores
      21. Landed property of Selvi on Bangalore-Mysore Highway—a farmhouse eon 1 acre—value Rs.80 crores.
      22. A Farm House owned by Maran Brothers on 1.84 acres of land---value Rs120 crores.
      23. The office of Udaya TV in Bangalore—10 grounds of land—value Rs.108 crores.
      24. Mu Ka Tamilarasu’s Rainbow Industries on Peters Road---value Rs.48 crores.
      25. Mu Ka Tamilarasu’s farmlands at Andiyur---13 grounds in extent— value Rs.30 lakhs
      26. Sun TV’s Office in New Delhi—value Rs.50 crores.
      27. Share value in Express Estates—value unknown
      28. Dinakaran Publications—value unknown
      29. Sumangali publications—value unknown
      30. Murasoli Trust—value unknown
      31. 37% share holding in Spice Jet Airways—Rs.48 was paid per share at the time of purchase –purchased through Wilbur Ross and Royal Holdings Services in USA from Kansakra---Kalanidhi Maran himself had declared the value at the time of purchase of these holdings as Rs.13, 384 crores.
      32. Lands owned by Dayalu Ammal Trust at Madakulam Village in Madurai District—21 cents.—value unknown
      33. Extent of land owned by Karunanidhi at Agarathirunnallur Village in Thanjavur District—21.30 acres—value unknown
      34. Extent of land owned by Dayalu Ammal in Tiruvallur District—3.84 acres-value Rs.1 crore
      35. Lands owned by Durga Stalin in Tiruvallur District---3680 sq.ft. of land—value 60 lakhs.
      36. 2.56 acres of land owned by Azagiri at Uthangudi village in Madurai North Taluk—value Rs.2 crores
      37. 7.53 acres of land owned by Azagiri at Kallathiri Village in Madurai North taluk—value 2 crores.
      38. 1.5 acres of land owned by Azagiri at Madurai Tallakulam—value Rs.5 crores.
      39. 1.54 acres of land owned by Azagiri at Chinnapatti Village in Madurai North taluk—Rs.40 lakhs.
      40) 12 cents of land owned by Azagiri in Madurai Tirupparankundram--- value Rs.50 lakhs
      41. 36 cents of land owned by Azagiri at Maddakulam Village in Madurai South Taluk—value Rs.1 crore
      42. 18,535 sq.ft. of land owned by Azagiri at Punmeni Village in Madurai South –value Rs.2 crores
      43. House owned by Azagiri on 21 cents of land at Sathya Sai Nagar in Madurai city---value Rs.2 crores.
      ************************************************** *
      The list is mostly correct but the mistakes are:

      1. They have excluded many other prime assets in the list (the families extensive holdings like 526 acers in Ooty, Mount Rd Voltas Building, acers and plots in Sholinganallur junction, large plots Thiruvanmayur,acers in Sriperamputhur,Amabathur etc are omitted)

      2. The valuation of many assets are on the lowerside paticularly the rural acerages on the list.

      Some list of other assets can be seen in the attached link:

      இன்று தயாநிதி… நாளை அழகிரி…. ?

      தொழில் அதிபர் ராசாத்தி அம்மாள்.

      கேடி சகோதரர்களின் முடிவின் ஆரம்பம் ?

      ஊட்டி எஸ்டேட் யாருடையது ? ஜெயலலிதா கேள்வி

      Comment


      • Re : Property Price Trends in Chennai

        [QUOTE=defu22;208055]Wiseman:

        From what I hear, Mannarkudi camp is very disappointed with itself for lacking behind in wealth when compared to DMK.

        I hear that they need large amount of funds to run the party machine and lubricate the party board members (Mannarkudi Board members) before the next central election. I hear Natrajan is preparing large scale wealth generation strategy for the 5 next year that is divided in to 2 phases.

        Phase 1:
        The Immediate tactical wealth creation strategy -Local wealth generation with in TN to commence shortly via state gov Contracts and procurements.

        Phase 2:

        Post next Central election, They want to take wealth generation to the national level like DMK did previously with National Cement Cartel (Maran Senior).

        But I doubt they will ever outsmart DMK in Scientific corruption.

        Anyhow the Investment in RE by both party will continue, where else can you wash black money in such a large scale.

        Comment


        • Re : Property Price Trends in Chennai

          From tepid 2008, Chennai's property market turns red hot

          Business line says, Chennai Property market has produced best returns in India in last 3 years.

          Business Line : Industry & Economy News : From tepid 2008, Chennai's property market turns red hot

          Comment


          • Re : Property Price Trends in Chennai

            Asking for some help!

            Folks,

            If anyone can point me to a good broker who deals in prime properties in Central Chennai around Mylapore, Radhakrishnan Salai area, I would be much obliged.

            This is a little urgent and you can drop in the details to my mail on this forum?

            Thank you very much!

            cheers

            Comment


            • Re : Property Price Trends in Chennai

              Originally posted by wiseman View Post
              Folks,

              If anyone can point me to a good broker who deals in prime properties in Central Chennai around Mylapore, Radhakrishnan Salai area, I would be much obliged.

              This is a little urgent and you can drop in the details to my mail on this forum?

              Thank you very much!

              cheers
              Wiseman,

              Looks you have concluded the RE Bubble is finally going to burst..and want to cash out.You are seeing any black swan event coming up?Please illuminate us also.

              Since you are not residing in Chennai, I suggest you dont deal with brokers for such prime properties.You will be directly exposed to the broker-politicos nexus and would be attracting unwarranted attention towards your property which is not safe at all. Most brokers will only bring buyers posing as a HNI/NRI whose background, source of money and business will be dubious. They will try to coerce you to close the deal quickly by not offering a fair value and try intimidating bringing high profile references on behalf of the buyer. With Tamilnadu politics taking a dirty turn, I wish you to stay out of any potential future problems like money trail of politicians and their benami etc.

              As an alternative I suggest, you approach reputed builders inviting them for outright sale or Joint venture for your property.I am sure many of them will be interested and will provide immediate settlement. Even in last week Hindu-Property plus there were many invitation from builders.It would be more easier for you to justify the transaction for tax purposes and invest the proceedings in other business/RE purchase.

              You can also try approaching banks for loan against property if the cash requirement is only temporary.

              Instead of wanting to sell out completely, I suggest you also explore options where you can liquidate partially and continue holding your stake in the property and milk it for as long as you can.

              One should be extremely lucky to get a buyer who is ready for a complete white transaction offering the correct price in this market.We faced this problem when we wanted to sell our ancestral land in one of the poshest location in chennai.We were in distress then because the partition of land was breaking the family and we wanted to sell it and divide the money.We were able to thwart all the external problems from brokers/politicians because we had some contacts of our own.We finally built 6 flats ourselves using a building contractor, sold 2 for cash flows and divided rest among heirs.The dispute over partition got solved amicably giving huge relief to everyone.Now, every family is earning handsome monthly rentals from it.The capital value of the proprty also has appreciated multifold beyond anyone could have anticipated then.

              Comment


              • Re : Property Price Trends in Chennai

                Test post in Chennai Forum

                Comment


                • Re : Property Price Trends in Chennai

                  Dear All,

                  I am glad to be in this Chennai Forum, i have been watching this for quite some time, but decided now to start posting. I want to send an email to Wiseman but how can i see his email id in this forum. Please guide me ?

                  Comment


                  • Re : Property Price Trends in Chennai

                    Here's how!

                    Originally posted by shaikindia View Post
                    Dear All,

                    I am glad to be in this Chennai Forum, i have been watching this for quite some time, but decided now to start posting. I want to send an email to Wiseman but how can i see his email id in this forum. Please guide me ?

                    Its funny, but I found out how to get a member's internal mail ID trying to get across to Abishek; but later abandoned it! Then Abishek posts a reply as though I had mailed him!!!

                    Okay. Click on Notifications and navigate down to Send Mail. Once your cursor is in the address textbox, start typing my name "wiseman". An autoselector will place the ID and you can then tab out and get on with completing the mail and sending it across.

                    Otherwise, I will send you a mail shortly and you could simply reply!

                    cheers

                    Comment


                    • Re : Property Price Trends in Chennai

                      Thanks Abishek. Mail you separately!

                      Originally posted by nabishek View Post
                      Wiseman,

                      Looks you have concluded the RE Bubble is finally going to burst..and want to cash out.You are seeing any black swan event coming up?Please illuminate us also.

                      Since you are not residing in Chennai, I suggest you dont deal with brokers for such prime properties.You will be directly exposed to the broker-politicos nexus and would be attracting unwarranted attention towards your property which is not safe at all. Most brokers will only bring buyers posing as a HNI/NRI whose background, source of money and business will be dubious. They will try to coerce you to close the deal quickly by not offering a fair value and try intimidating bringing high profile references on behalf of the buyer. With Tamilnadu politics taking a dirty turn, I wish you to stay out of any potential future problems like money trail of politicians and their benami etc.

                      As an alternative I suggest, you approach reputed builders inviting them for outright sale or Joint venture for your property.I am sure many of them will be interested and will provide immediate settlement. Even in last week Hindu-Property plus there were many invitation from builders.It would be more easier for you to justify the transaction for tax purposes and invest the proceedings in other business/RE purchase.

                      You can also try approaching banks for loan against property if the cash requirement is only temporary.

                      Instead of wanting to sell out completely, I suggest you also explore options where you can liquidate partially and continue holding your stake in the property and milk it for as long as you can.

                      One should be extremely lucky to get a buyer who is ready for a complete white transaction offering the correct price in this market.We faced this problem when we wanted to sell our ancestral land in one of the poshest location in chennai.We were in distress then because the partition of land was breaking the family and we wanted to sell it and divide the money.We were able to thwart all the external problems from brokers/politicians because we had some contacts of our own.We finally built 6 flats ourselves using a building contractor, sold 2 for cash flows and divided rest among heirs.The dispute over partition got solved amicably giving huge relief to everyone.Now, every family is earning handsome monthly rentals from it.The capital value of the proprty also has appreciated multifold beyond anyone could have anticipated then.
                      Abishek,

                      Thank you for your response.

                      My case is similar to yours and I'm mailing to you separately.

                      As of now, markets all over are crashing (DOW down 105 points within 15 mins of opening, CAC, DAX, all down) because I think neither Obama nor Reid nor Boehner are coming up with anything credible to raise the Debt Ceiling.

                      While the US may have a few more days before defaulting, its getting to be a very, very tight situation. Couple more days and it will be practically a default, though they will paper over it with technical explanations and maybe even threaten Moody's, S&P, etc to shut up for a while.

                      I think, given the situation, though its not an unknown situation, it can be termed a Grey Swan (at least) because, even now, most people simply do not believe that the "strongest", "most prosperous", most powerful" nation in the world is about to declare Bankruptcy - though its been insolvent for quite a while!!!

                      I think this month's F&O settlement is going to be an extremely painful one for a lot of people who were long 5600 upward and will be taken to the cleaners tomorrow!

                      cheers

                      Comment

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